The Bank of Jamaica says it will be launching a banking web platform in March next year in order to provide customers with more information on banking fees, charges and interest rates.
The bank revealed that the electronic Know Your Customer platform is now 50% complete with a full rollout taking place in 2027.
The bank also agreed with the Fair Trading Commission that limited ability of customers to move their accounts from one bank to another is having a negative impact on competition, leading to higher fees, charges and interest rates.
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